News
GAD Gender Pensions Gap Report
The Gender Pay Gap Information Regulations 2017 put a requirement on employers with more than 250 employees to publish differences in pay between men and women. Analysis by the LGA…Spring Budget – Changes to pensions taxation
The Chancellor has announced some changes to pensions taxation in the Spring Budget. The Annual Allowance (which is the maximum amount of pensions savings an individual can make each year…Publication of Fire Brigades Union vs HM Treasury Cost Control Mechanism Judicial Review
The full judgment in the Fire Brigades Union vs HM Treasury Cost Control Mechanism Judicial Review has now been published. The High Court ruled in favour of HM Treasury on…SAB submits its response to DLUHC’s cost management process consultation
SAB has submitted its response to the DLUHC consultation on reforms to the SAB scheme cost assessment process, which closes on 24th March 2023. The SAB scheme cost assessment is…Publication of McCloud data issues guidance
SAB has published guidance to assist administering authorities with McCloud data issues. The guidance sets out what options administering authorities in England and Wales may consider if they are unable…Climate Risk Reporting Survey Summary
Last year the Government consulted on new requirements for all LGPS administering authorities to put in place governance and risk management arrangements, as well as setting and reporting against various…Revaluation Order/Public sector pensions increase
The Pensions Increase and Revaluation Order for public sector pensions has been published today alongside a written ministerial statement which sets out how the main public service schemes will be…Minister responds to SAB letter on External Audit
Lee Rowley MP, Minister for Local Government, has responded to a letter written to him in August 2022 by SAB on delays in the external audit of local authority accounts,…Consultation on changing the revaluation date issued
DLUHC has issued a consultation on changing the in scheme revaluation date from 1 to 6 April, with effect from 1 April 2023. The proposed change will remove the impact…DLUHC consultation on changes to the SAB’s cost management process
DLUHC has today launched an 8 week consultation on changes to the Scheme Advisory Board’s cost management process – the process that operates separately from but alongside the quadrennial scheme-level…SAB Scheme Valuation Report 2022
The Secretariat is currently in the process of planning for the Board’s 2022 Scheme Valuation Report. The report is aggregated using data from individual fund valuation reports. It would be…Chancellor announces “Edinburgh Reforms”
On December 9th, the Chancellor of the Exchequer announced a set of reforms to drive growth and competitiveness in the financial services sector. It has been confirmed that the Government…Board Chair and Secretary meet with Minister Lee Rowley MP
Cllr Roger Phillips and Board Secretary Jo Donnelly had a useful meeting with the Minister on December 7th, 2022. Topics discussed included pooling, government progress on the Good Governance recommendations,…Further education reclassification
Following a review into the classification of further education sector, the Office for National Statistics has reclassified colleges and their subsidiaries in England into the central government sector. You can…2021/22 Annual Reports
The Board is aware that some pension fund audits are likely to be delayed again this year, largely due to issues with auditing the host authority’s accounts. There is a…SAB finalises its response to DLUHC’s climate risk reporting consultation
SAB has submitted its response to DLUHC’s climate risk reporting consultation, which closes on 24th November 2022. The response includes some over-arching observations on the role of pension funds (as…
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